Allied Market Research

Portland, OR -- (SBWIRE) -- 07/21/2017 -- A Coil Tubing (CT) normally consists of a set of equipment which performs standard continuous-length tubing operations in the oil & gas fields, mainly for upstream activities. Coiled tubes are made up of very low-alloy carbon-steel and is needed in oil & gas industry during the phase of completion and oil recovery.

The growth of the coiled tubing market is driven by a rise in demand for energy, strict environmental regulations, introduction of new technologies, improved services, and favorable government regulations. However, intense competition among key market players are factors restraining the growth of this market. Ongoing and upcoming projects & developments in offshore drilling along with shale exploration and production activities offer abundant growth opportunity to the North America coiled tubing CT services market.

The market is segmented on the basis of types, application and geography. On the basis of types, the market is segmented into well intervention, drilling, and others. Based on the application, the market is segmented into onshore & offshore. On the basis of country, the market is segmented into the U.S., Canada, and Mexico.